Top Exploration announces Rory Quinn as new CEO and $725,000 private placement

Top Exploration Provides Coporate Update; Appoints New CEO

Vancouver, B.C., September 25, 2020. Top Exploration Inc. (CSE: TE) (“Top Exploration” or the “Company”) is pleased to announce the Company has completed a mapping and soil sampling grid of 663 samples over the course of 11 days on its Golden Girl property in British Columbia. The mapping focused on the areas within and peripheral to the Golden Girl quartz monzonite stock with emphasis on the western exposures of the intrusive body.

Mapping identified two conceptual exploration targets. The first are north south striking veins with abundant sulphides. The field work identified five occurrences of this target type that have dimensions of 10m x 200m. The second target includes zones of disseminated sulphides with replacement texture characterized by sulphide after ferro-magnesian minerals that are coincident with zones of elevated veining, as stockwork and sheeted vein zones. The field work identified four occurrences of these targets and a conceptual exploration target measuring ~50m x 100m. Upon receiving analytical results, geochemistry will be interpreted, bedrock mapping will be finalized. The Company will evaluate these results to determine the next steps for the Golden Girl project, and has also taken a strategic mandate to pursue alternative and additional opportunities in the resource sector for acquisition.

The Company is pleased to announce that it has appointed Rory Quinn as Chief Executive Officer of the Company. Mr. Quinn has over 15 years of capital markets experience in the global gold mining space and is the former Director, Investor Relations at Wheaton Precious Metals, previously Silver Wheaton. During his tenure at Wheaton from 2012 to 2019, he worked on acquisitions totalling over US$6 billion as the company built its precious metal business.

In addition, Mr. Quinn is highly experienced in corporate strategies including mergers and acquisitions. Mr. Quinn has been involved in the review of hundreds of mining companies and mining assets from large precious metal producers to earlier stage developers and explorers in assessing high quality investment opportunities around the world. Prior to joining Wheaton, Mr. Quinn worked in Toronto at Castle Gold, which was sold along with its flagship, El Castillo Gold mine, to Argonaut Gold. Before switching his focus to the resource capital markets, Mr. Quinn started his career with the consumer products giant, Gillette Company, now Proctor and Gamble.

Mr. Quinn Stated: “ I am excited to join Top Exploration to utilize my experience to lead the new strategic initiatives for the Company in identifying and acquiring new high value opportunities in the resource sector.”

Mr. Brent Hahn is stepping back from the CEO role, but will remain as a director of the Company.

In addition, the Company announces that it has arranged a non-brokered private placement (the “Private Placement”) for total gross proceeds of C$725,000. The Private Placement will consist of 14,500,000 common shares of the Company at a price of $.05 per share.

Proceeds of the Private Placement will be used for new project evaluations and for general corporate and working capital purposes. Closing of the Private Placement is subject to the Company’s filing requirements with the Canadian Securities Exchange (“CSE”). All shares issued under the private placement will be subject to a four month hold. Finder’s fees may be paid on the Private Placement as permitted by applicable securities laws and the policies of the CSE.

Qualified Person Jim McCrea, a “Qualified Person” as defined by National Instrument 43-101, has read and approved all technical and scientific information contained in this news release.

Brent Hahn CEO, Top Exploration Inc.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “indicates”, “opportunity”, “possible” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Top Exploration believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop its projects, to repay its debt and for general working capital purposes; changes in economic conditions or financial markets; the inherent hazards associates with mineral exploration and mining operations, future prices of copper and other metals, changes in general economic conditions, accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop the projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects; the general ability of the Company to monetize its mineral resources; and changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.